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A Universal Payment Identification Code (UPIC) is an identifier (or banking address) for a bank account in the United States used to receive electronic credit payments. [1] A UPIC acts exactly like a US bank account number and protects sensitive banking information.
The bank was listed in the Dhaka Stock Exchange (DSE) by 1986 and Chittagong Stock Exchange (CSE) by 1995. [11] [14] On 8 April 1993, Humayun Zahir, the first chairman of the United Commercial Bank was murdered following a dispute with other bank directors. [15] Akhtaruzzaman Chowdhury Babu, director of UCB was suspected for the murder. [16]
For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an abbreviation for Cost of Equity (COE).
The ACH operator informs the destinator's bank of the transaction details. When transaction arrives in the destination bank, the bank executes the transaction: such as crediting the payment to the beneficiary, while the ordering customer's bank debits the ordering customer's account.
UCB said customers with direct deposits and automatic payments will need to contact it to provide information for those to continue. Also, safety deposit box accounts at Dixon Bank must be closed.
The bank, which took on $299 million preferred stock Troubled Asset Relief Program (TARP) funding from the United States Treasury in 2008—which is now a loss to the Treasury—is also expected to cost the FDIC some $1.4 billion in losses, the bulk of the losses on about $7.7 billion of UCB's assets acquired by East West.
January 2009, MasterCard and Cyota Inc. acquired the controlled payment number system developed by Orbiscom, a Dublin-based payment processing company. [2] In the United States, the system is used by the following credit card issuers: Bank of America "ShopSafe" (inherited when it acquired MBNA) (and now discontinued-see below) [3] and Citibank "Virtual Account Numbers". [4]
UCO Bank, formerly United Commercial Bank, is an Indian public sector bank, and financial services government owned body headquartered in Kolkata. [3] It is a medium sized public sector bank in India and ranked 1948 in Forbes Global 2000 list of year 2018 & ranked 80 on the Fortune India 500 list in 2020. [ 4 ]